Ray From Cleveland
Diamond Member
- Aug 16, 2015
- 97,215
- 37,439
Well......you complained about wealth inequality. How do you suppose that inequality happens? It happens because we willingly trade our dollars in for products and services the wealthy provide. Ever watch those news broadcasts on Thanksgiving nights? There are people sleeping on the sidewalks, in the cold, in the snow to be the first through the doors of stores. They are begging the wealthy to take their money.
So why the increase in inequality? Because there are more things to buy today.
When I was a teen, there was no cable television. There were no cell phones. There were no VCR's or any other entertainment device. There was no internet.
You had your furniture, your television set and antenna, your stereo, and that was about it. Most families were one car families compared to today where every member that drives has one.
So we spend a lot more residual money than we did years ago, and the people that get that money are the wealthy. We are more than happy to give it to them. But when we do, we shouldn't complain about it either. Nobody forced us to give them our money.
There is more inequality because the working man makes the same as he did back then, but the rich are getting paid more. Ceos went from 40x the average worker to over 300x the average worker.
Stop spending and our economy will be even slower than now. We need wage increases for the middle class and more middle class jobs.
The middle-class jobs are there, it's just that Americans don't want them. You can lead a horse to water.........
CEO's are paid no different than any other contract job. That's because there are few of them that can actually run a company.
Do you complain about a pitcher that makes 10 million for a three year contract? How about an actor or actress that gets 15 million dollars to make just one movie? How about a rock or country band that charges $35.00 a ticket to see them in concert?
I started watching the show Big Bang Theory about a year ago. Since then I've been catching up on all their past episodes. I started to become interested in the cast of the show, so I looked them up.
Did you know that they (for some time) are getting paid over one million dollars each for just one show? That's less than 20 minutes of work when you remove the commercials. One million dollars for 20 minutes of work. Think about it.
Don''t get me wrong. I am not knocking actors, actresses, sports figures or musicians. They all deserve the money they get. But CEO's are in the same category. They are paid because their work produces great profits for their companies no different than the other people I mentioned make great profits for theirs. There is really no difference.
No great jobs aren't out there. If they were and going unfilled wages would go up.
Ceo pay is a racket. The board determines pay. The board consists of many current and former ceos. Other board members know if they give the big raises they will get on other boards. Nobody is getting paid by performance.
Sports and entertainments stars are getting paid by some ceo.
Nobody pays a person that isn't producing sufficient profit for the company.
If you make $20.00 per hour, it's only because your employer can make $30.00 or $40.00 an hour from your work. Nobody is going to pay you $20.00 per hour when you only produce $15.00 an hour of work.
Stockholders decide who is going to run a company. If stocks go down, then the company is in trouble, and nobody is going to keep a CEO that isn't keeping those stock prices up. If they do, the stockholders vote out the board members.
If a CEO has a long record of doubling profits for a company, you have two choices: hire that CEO and pay him the millions of dollars to do the same for your company, or don't pay him and your competition will.
In this conversation, I gave you my very own field of work to prove that there are thousands of jobs out there that Americans won't take. I even proved it to you by giving you the sites and places to find these listings, and yet you still want to tell yourself there are no good jobs out there. You are in denial.
I own many stocks, I'm not deciding what to pay ceos. That is what the board does. And the board is filled with ex ceos who are now giving back to the next group, current ceos who also want increases, board members who want to get on more boards.... Sorry it is not performance.
This Infuriating Graph Proves That CEO Pay-for-Performance Is a Sham
CEOs were paid 40x the average worker in the 70s, now it's like 300x. CEOs aren't performing that much better now, it is a rigged game.
You are in denial. If there were lots of great jobs going unfilled wages would be going up. They are stagnant, there is no significant number of great jobs going unfilled.
Here you go, and this is just from my area alone. Imagine how many other areas are just like this:
cleveland transportation - craigslist
No, you don't get to decide what a CEO makes, but you do vote on members of the board if you are a stockholder. If a CEO isn't doing his or her job, then stockholders start to pull their money out of the company.